Paloma Partners Management Co raised its position in Fresh Del Monte Produce, Inc. (NYSE:FDP) by 181.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,451 shares of the company’s stock after buying an additional 8,023 shares during the period. Paloma Partners Management Co’s holdings in Fresh Del Monte Produce were worth $737,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the company. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Fresh Del Monte Produce during the first quarter worth $229,000. Marshall Wace North America L.P. purchased a new stake in shares of Fresh Del Monte Produce during the first quarter valued at approximately $229,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Fresh Del Monte Produce during the first quarter valued at approximately $258,000. Eqis Capital Management Inc. increased its stake in shares of Fresh Del Monte Produce by 24.8% in the first quarter. Eqis Capital Management Inc. now owns 4,558 shares of the company’s stock valued at $270,000 after buying an additional 907 shares in the last quarter. Finally, Icon Advisers Inc. Co. purchased a new stake in shares of Fresh Del Monte Produce during the first quarter valued at approximately $320,000. Hedge funds and other institutional investors own 66.64% of the company’s stock.
Shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) traded down 1.35% during mid-day trading on Tuesday, hitting $48.32. The stock had a trading volume of 295,510 shares. Fresh Del Monte Produce, Inc. has a 1-year low of $46.31 and a 1-year high of $66.86. The stock’s 50-day moving average is $50.64 and its 200 day moving average is $55.24. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 15.36 and a beta of 0.42.
Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by $0.15. Fresh Del Monte Produce had a net margin of 3.99% and a return on equity of 10.23%. The company had revenue of $1.15 billion for the quarter. During the same period last year, the firm earned $1.75 EPS. Fresh Del Monte Produce’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts predict that Fresh Del Monte Produce, Inc. will post $3.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 16th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, August 14th. This represents a $0.60 dividend on an annualized basis and a yield of 1.24%. Fresh Del Monte Produce’s payout ratio is 18.93%.
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Separately, Zacks Investment Research downgraded Fresh Del Monte Produce from a “hold” rating to a “sell” rating in a research note on Monday, May 1st.
In related news, insider Youssef Zakharia sold 555 shares of Fresh Del Monte Produce stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $49.77, for a total transaction of $27,622.35. Following the completion of the sale, the insider now owns 3,383 shares in the company, valued at approximately $168,371.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Sergio Mancilla sold 3,642 shares of Fresh Del Monte Produce stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $49.50, for a total transaction of $180,279.00. Following the sale, the vice president now owns 1,642 shares of the company’s stock, valued at approximately $81,279. The disclosure for this sale can be found here. Insiders have sold a total of 25,356 shares of company stock valued at $1,240,501 in the last quarter. 36.90% of the stock is currently owned by company insiders.
About Fresh Del Monte Produce
Fresh Del Monte Produce Inc is a holding company. The Company, through its subsidiaries, is engaged in sourcing, transportation and marketing of fresh and fresh-cut produce together with prepared food products in Europe, Africa and the Middle East. Its operations are aggregated into business segments on the basis of its products: bananas, other fresh produce and prepared food.
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